Bharat’s Depreciation under Schedule II of Companies Act, 2013 & Income Tax Act, 1961 | By CA. Kamal Garg

“Depreciation under Schedule II of Companies Act, 2013 & Income Tax Act, 1961” by CA. Kamal Garg is an in-depth and practical guide covering the concept, computation, and legal framework of depreciation under both corporate and tax laws in India. This book provides a detailed comparative analysis of depreciation treatment under the Companies Act, 2013, and the Income Tax Act, 1961, offering clarity on compliance, financial reporting, and tax implications.

Key Features:

✅ Comprehensive Coverage of Depreciation Laws

• Detailed explanation of Schedule II of the Companies Act, 2013, which governs the useful life and residual value of assets for financial reporting.

• Complete analysis of Section 32 of the Income Tax Act, 1961, which prescribes depreciation rates, methods, and deductions for tax computation.

• Discussion on WDV (Written Down Value) and SLM (Straight Line Method) approaches.

✅ Latest Amendments & Practical Applications

• Incorporates recent amendments, notifications, and updates related to depreciation accounting.

• Covers the impact of changes on financial statements, tax liabilities, and compliance requirements.

• Discusses new provisions introduced through Finance Acts and their implications.

✅ Comparison Between Companies Act & Income Tax Act Depreciation

• Key differences in depreciation treatment for accounting vs. taxation purposes.

• Analysis of useful life determination, residual value calculation, and asset classification.

• Covers additional depreciation, revaluation impact, and deferred tax implications.

✅ Practical Guidance for Businesses & Professionals

• Step-by-step approach for calculating depreciation for financial statements and tax filings.

• Illustrative examples, charts, and case studies for real-world application.

• Discusses audit considerations and compliance aspects to avoid penalties.

✅ Judicial Precedents & Case Law Analysis

• Includes landmark rulings from various courts and tribunals on depreciation disputes.

• Provides clarity on contentious issues such as block of assets, component accounting, and accelerated depreciation claims.

✅ Essential for Accountants, Tax Professionals & Students

• A must-have reference for chartered accountants, CFOs, finance professionals, tax consultants, and company secretaries.

• Useful for law students, CA/CS/CMA aspirants, and academicians studying corporate and taxation laws.

This book serves as a practical guide for businesses, professionals, and students, ensuring accurate depreciation computation, legal compliance, and optimized tax planning. With detailed explanations, case laws, and expert insights, it is an indispensable resource for financial and tax professionals.

📚 Your go-to guide for mastering depreciation under corporate and tax laws!

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